Riyadh - Mubasher: SIMAH Rating Agency (Tassnief) has assigned a long-term rating of ‘A’, a short-term rating of ‘T-2’, and an ‘A’ rating for Saudi Logistics Services Company's (SAL) Sukuk program, with a stable outlook.
The ratings reflect SAL’s growth and very low credit risk, noting that risk levels may vary amid different economic conditions, according to a bourse disclosure.
These credit ratings reflect Tassnief’s positive outlook on SAL’s leading position and pivotal role in the ground handling and diversified logistics services market.
Meanwhile, these ratings are supported by the company’s operational excellence, a robust infrastructure, strong cash flow, and a solid governance and risk management framework.
These assessments, which underscore SAL’s strong financial position, will also enable the company to meet financing needs for strategic initiatives and expansion plans.
On 25 November, SAL Logistics Division, a subsidiary of SAL, signed a logistics services agreement with Flyadeal Company to provide freight forwarding, customs clearance, transportation, and warehousing services.
